London-based Fintech Due Raises $3.3M for Stablecoin Platform
Due, a London, UK-based provider of a stablecoin and blockchain technology payment platform, recently announced that it has raised $3.3 million in Seed funding. The round was led by Semantic and Fabric Ventures, with participation from BlockTower, Speedinvest, Polymorphic Capital, and Discovery Ventures, as well as angel investors including Itamar Lesuisse, Pavel Karagjaur, and Emil Urmanshin. The company plans to use the funds to further develop its technology and expand its fiat currency connectivity to more markets.
Co-founded by Robert Sargsian and Alex Popov, Due is a fintech startup with a vision to reshape international payments through stablecoins and blockchain technology.
With a global team spanning across London, Munich, New York, Sofia, Lagos, and Mexico City, Due offers multi-currency accounts, global transfers/remittances, and merchant acquiring services for businesses and individuals. Their payment platform connects domestic payment rails through open and interoperable blockchain protocols, allowing customers to open borderless accounts and make/receive payments across 50+ markets using their preferred local payment methods.
By utilizing Ethereum and its various scaling solutions, Due aims to empower underserved and emerging markets with uninterrupted access to global liquidity. Their platform enables transactions at lower costs and faster settlement times compared to traditional methods. Due is set to launch this November, initially focusing on key corridors connecting the United States, Europe, the United Kingdom, and Sub-Saharan Africa. Expansion into Latin America and Asia-Pacific is scheduled for Q1 2024. Additionally, the company is actively working on integrating digitized Real World Assets to provide wider access to treasury and yield-bearing assets.
They've invested in Due
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